This is my last net-worth updates report for the year 2017. For those new to my finance journey, net worth update is a simple report I post every month which tracks the progress of my journey to reach my financial goals.
My ultimate financial goal is to become a self-made millionaire by December 2024 (10 years plan). I have a strong believe that I can achieve this goal by saving and investing in high quality dividend paying blue-chip companies. I understand the power of compounding force, and once my net-worth reach to a certain point, the ‘compounding power’ give a heavy lifting to my net-worth as well as for my passive dividend income.
I have been posting all my financial information in this website because I love to inspire and motivate people to start their own journey to reach their financial freedom.
You could learn from my successes and failures (experience) and improve your financial IQ.
Along the way, I make financial mistakes and will share my experience here with you. So, you could learn something, avoid those mistakes and save money.
Also, I like to publickly track my progress and get valuable advice from like-minded people.
My dividend focused investments didn’t perform well as market did due to the rising bond yield.
I have very low percentage holdings in the cyclical investments such as oil & gas producers, consumer discretionary stocks, materials & mining sectors. And also I have purposely avoided the speculative investments such as marijuana, BitCoins/blockchains and higher earnings multiples tech stocks.
Recently those sectors have been performing well, and defensive dividend stocks getting hammered.
As long term readers know that my net-worth is heavily depending on my investment assets. Therefore, my net-work didn’t move well last month. Still it is in green. I am happy about it.
One of my short-term goals is reach $225K net-worth by end of 2017. I admit that I failed in my attempts to reach my target.
I could easily predict my dividend incomes, but net-worth. Again, it is depending on my portfolio performance – capital gains.
I won’t change my investment strategy. Therefore, I will keep adding defensive dividend growth stocks to my portfolio until I reach my financial freedom.
In December 2017, my net worth increased by $2700 or 1.4% from my last month updates, thanks to record high dividend income I received in December.
Net worth update as of December 31, 2017 ()
Assets: $522 100 ()
- Cash: $2700 ()
- Home: $275 000 (no change) – Yearly adjustment with average inflation rate of 2%
- Canadian Stocks: : $187 700 ( )
- U.S. Stocks: $40 700 ()
- Employer’s Pension Plan: $16 000()
Liabilities: $327 100 ()
- Mortgage : $177 600 ()
- Student loan: $22 000 ()
- Margin loan: $72 100 ()
- Credit card 1:$6200 (no change) (low interest credit card – 1.99% special rate for 8 months – will be expired in July 2018)
- Credit card 2:$11 900 () (low interest credit card – 1.99% special rate for 12 months – will be expired in March 2018)
- Credit card 3:$10 800 () (low interest credit card – 0.99% special rate for 12 months – will be expired in March 2018)
- Line of Credit 4: $4600 (no change) (low interest credit card – 0% special rate for 12 months – will be expired in June 2018)
- Credit card 5: $6000 (no change) – (low interest credit card – 1.99% special rate for 10 months – will be expired in February 2018)
- Credit card 6: $1000 () – (low interest credit card – 2.99% special rate for 8 months – will be expired in August 2018)
- Credit card 7:$600 ( ) – (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 :$14 300 (no change) – (low interest credit card – 2.99% special rate for 12 months – will be expired in December 2018)
- HELOC: $0 () – (low interest of 3.95% – primte + 0.5%)
Net worth :$195 000 () as of December 31, 2017
My net worth up by since my last update.
Note
- all amounts are rounded to the nearest $100;
- all numbers are in CAD; and
- Conversion rate 1.00 USD = 1.2517 CAD
I have a huge credit card debts because I take advantage of low balance transfer promotion rate and invest in high quality dividend stocks. Learn, earn, save,invest and leverage your skills are the keys to become wealth.
Thank you so much for being in my finance journey and for your support.
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Hi. Im happy i found your blog. I am actually doing the same thing as you. Taking advantage of low interest balance transfer cc to invest. However, i use the money to invest in real estate instead of stocks. I am wondering. Do you use excel to track your numbers?
Hello Sony,
Thank you for stopping by,
Leverage investing is risky; however, if you use them in a right way, then you can build wealth faster. I use my credit cards to buy assets, especially income producing assets. But, many people mistakenly thinking all loans are bad. It is not true at all.
Actually I use Google Spreadsheet to track all the date. It is free tool available in Google Drive. Excel is also good one, but it doesn’t update my stocks prices automatically.
Wish you all the best in your success. We love hear success stories to inspire 🙂
Best Regards,
I wouldn’t sweat the short term under-performance in the dividend stocks – will always happen when the Market gets carried away with more exotic investments! I’m sure by 2024 those dividend stocks will be sitting pretty. All the best for 2018!
Hello Frankie,
Thank you for stopping by,
Well said. Investors follow hot stocks when everything looks great, but dividend growth stocks make their move in bull and bear markets.
Cheers,